Tag: HKMA
October Regulatory Round-up: US sanctions’ vague definition leaves FIs with less space to comply; HK confident of acting as a conduit to China’s wealth; FSB: Multilingual environment is challenging for tech tools
One in four Hong Kong PBs, WMs uses at least one regtech solution: HKMA
Northbound Bond Connect success spawns study of Southbound channel: HKMA’s Eddie Yue
FinCEN leak sheds light on overloaded financial intelligence units
Hong Kong SFC fines BEA HK$4.2 million for regulatory breaches
August Regulatory Round-up: China opens bond market to foreigners; HK launches Limited Partnership Fund regime; HK security law may clash with US sanctions
New HK AoF report proposes risk mitigation strategies for banks adopting AI
July Regulatory Round-up: HKMA reassures market on NSL, eases compliance measures; MAS proposes omnibus act to address financial risks
HK banks may need to retain due diligence flexibility amid COVID-19 resurgence: HKMA
June Regulatory Round-up: MAS quashes fund flow rumours; WM Connect launches; PBs in HK ramp up bespoke deal record-keeping
Banks must be prepared for skill gaps due to increased tech adoption, Greater Bay growth: HKMA
May Regulatory Round-up: Regulators come to the defence of Hong Kong; HKMA reviews incentive structures; Increased demand for fully remote onboarding
Hong Kong and Singapore banks cite regulation as holding back Open Banking: Finastra
HKMA affirms “phased approach” by banks adopting remote onboarding
Completely remote onboarding still elusive for Hong Kong PBs
HKMA to take closer look at front office incentives following banking culture review
Banks’ fintech adoption shows early signs of payoff: HKMA
Hong Kong regulators to review intermediaries’ spread charge policies in 2H20
HKMA seeks PWMA feedback on mandatory reference checking scheme
SFC and HKMA join hands to establish green finance steering group
MAS shows signs of moving towards Hong Kong standard of suitability: Synpulse
LCs must promptly report major operational changes caused by COVID-19: SFC
March Regulatory Round-up: SFC postpones regulatory deadlines; Asian banks eager to close gap in AML compliance; Force majeure clause may affect PB trading contracts; Regulators scrutinise price transparency at PBs
PBs should revisit algo-trading compliance as the HKMA steps up stringency
Alts investment platform hires chief commercial officer in Singapore
HKMA halves countercyclical capital buffer to encourage lending to SMEs
Nurturing success – Female PB leaders’ thoughts on gender diversity and achieving excellence
Asian authorities harness AI in AML fight
February Regulatory Round-up: Regulators aim to soften COVID-19 impact; MAS faults PBs for overcharging clients; China’s largest AML fine; Hong Kong beefs up privacy protection
APAC banks better placed to cut costs and invest in digital transformation: EY
Some PBs overcharge clients and are perfunctory in risk profiling: MAS
Hong Kong’s monetary and banking system can weather COVID-19 outbreak: HKMA
MAS asks FIs to step up business continuity plans in corona crisis
PBoC pledges sufficient liquidity to maintain the smooth operation of China’s banking system
HKMA: Banks must ensure local buy-in for culture promoted at global level
HKMA advocates stronger PWM industry
Regulatory trends in 2019
November Regulatory Round-up: Final judgment on scope of “anti-Bartlett” clause; UBS fined for spread overcharges; Regulators launch AI frameworks as bank adoption increases
HK regulators redesigning city as Asia’s preferred AM hub
HKMA warns banks against investment fund churning
Amy Lo: GBA two-way WM connect scheme still in high level discussions
October Regulatory Round-up: HK prepped for economic downturn; PB dual role of advisor and trustee comes into question; China continues to open onshore market
How to train your AI: Expert chimes in on proper public cloud usage for PBs
HKMA stresses senior management accountability for AI-driven decisions
Rewards for proper culture not yet reflected in PB payouts: Synpulse
Banking system remains “robust and sound” despite significant downside risks: HKMA
